Homework Answers
7.
| Profit and Loss Statement | ||
| Revenues | ||
| Sales | $ 123,000 | |
| Rent income | $ 1,200 | |
| Interest income | $ 2,000 | |
| Total revenues | $ 126,200 | |
| Less: Expenses | ||
| Salary expense | $ 22,000 | |
| Rent expense | $ 8,000 | |
| Cost of goods sold | $ 52,000 | |
| Depreciation expense | $ 3,000 | |
| Total expenses | $ 85,000 | |
| Net income | $ 41,200 | |
8.
| Statement of retained earnings | |
| Retained Earnings, Beginning balance ($250,000-$30,000) | $ 220,000 |
| Add: Net loss for the period | $ (22,000) |
| Less: Dividends | $ (5,000) |
| Retained Earnings, Ending balance | $ 193,000 |
You can reach me over comment box if you have any doubts. Please
rate this answer
Add Answer to:
7).. Use the following data to create a P&L: Accounts Receivable Building Cash Salary Expense Accounts...
Use the following data to create a balance sheet: Accounts Receivable Building Cash Salary Expense Accounts...
Use the following data to create a balance sheet: Accounts Receivable Building Cash Salary Expense Accounts Payable Equipment Retained Earnings Prepaid Expenses Sales Accumulated Deprec- 22,000 142,000 38,000 22,000 37,000 86,000 ?? 2,000 123,000 32,000 Goodwill Accrued Expenses Short-term Notes Payable Cost of Goods Sold Long-term Investments Common Stock Interest Income Inventory Dividends paid Rent Income 16,000 4.000 25,000 52,000 35,000 1,000 2,000 62,000 25,000 1,200 10). Use the following data to create a P&L: $12000 $12,000 $64,000 $53,000 $22,000...
Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000...
Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock 1,000 Retained Earnings Interest Income 2,000 Prepaid Expenses 12,000 Inventory 82,000 Sales 123,000 Dividends paid 25,000 Salary Expense 22,000 Cost of Goods Sold 62,000 Prepare a balance sheet. Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock...
The following items were taken from the accounting records of a company. Accounts Payable 57,000 Long-term...
The following items were taken from the accounting records of a company. Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock 1,000 Retained Earnings Interest Income 2,000 Prepaid Expenses 12,000 Inventory 82,000 Sales 123,000 Dividends paid 25,000 Salary Expense 22,000 Cost of Goods Sold 62,000 Prepare a balance sheet. The following items were taken from the accounting records of a company. Accounts Payable...
Use the following data $ 57,000 $ 32,000 $255,000 $ 15,000 $ 76,000 Accounts Payable Accounts...
Use the following data $ 57,000 $ 32,000 $255,000 $ 15,000 $ 76,000 Accounts Payable Accounts Receivable Building Cash Equipment Retained Earnings Prepaid Expenses Sales ?? $ 12,000 $123,000 $ 22,000 $ 35,000 $ 6,000 $ 9,000 $ 35,000 $ 1,000 $ 2,000 $ 82,000 $ 25,000 $ 62,000 $ 8,000 $ 9,000 Salary Expense Long-term Investments Trademarks Accrued Expenses Short-term Notes Payable Common Stock Interest Income Inventory Dividends Paid Cost of Goods Sold Utilities expense Income tax expense Use...
Use the following data to create a balance sheet: Cash Accounts Payable Revenues Salaries Payable Investments...
Use the following data to create a balance sheet: Cash Accounts Payable Revenues Salaries Payable Investments Interest Earned Common Stock $12.000 $ 22,000 $123,000 $ 4,000 $ 10,000 $ 1,000 $ 5,000 Accounts Receivable Equipment Goodwill Inventory Notes Payable Cost of Goods Sold Supplies $ 33,500 $ 67,000 $ 88,000 $ 29,000 $ 20,000 $ (62,000) $ 1,500 Use the following data to prepare a Statement of Cash Flows: a. cash borrowed from the bank b. cash paid for equipment...
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable...
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable Merchandise Inventory Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Salaries Expense Utilities Expense Rent Expense Interest Expense Totals $3,000 25,000 293,000 22,000 6.00 465,000 200,000 15,000 68,000 53,000 __4.000 $808,000 $808,000 How much is the gross profit? O A. $129,000 B. $119,000 O C. $125,000 D. $265,000
Cash 5,161 Accounts Receivable 2,312 Prepaid Expenses 722 Equipment Accumulated Depreciation 13,561 8,903 Accounts Payable !...
Cash 5,161 Accounts Receivable 2,312 Prepaid Expenses 722 Equipment Accumulated Depreciation 13,561 8,903 Accounts Payable ! 1,678 Notes Payable 4,368 1,000 Common Stock Retained Earnings Dividends 1,505 1,000 Fees Earned 7,824 Wages Expense 2,019 Rent Expense 700 Utilities Expense 488 Depreciation Expense 257 Miscellaneous Expense Totals 26,278 26,278 Determine the total liabilities for the period. 11
20X4 20X3 Cash $ 5,100 $ 4,800 Accounts Receivable $ 9,010 $ 6,100 Inventory $ 10,400...
20X4 20X3 Cash $ 5,100 $ 4,800 Accounts Receivable $ 9,010 $ 6,100 Inventory $ 10,400 $ 14,000 Prepaid Expenses $ 1,950 $ 1,020 Equipment $ 58,500 $ 59,900 Accumulated Depreciation - equipment $ (33,100) $ (32,000) Total Assets $ 51,860 $ 53,820 Account Payable $ 7,000 $ 11,400 Interest Payable $ 350 $ 110 Income taxes payable $ 650 $ 500 Dividends Payable $ 2,400 $ 3,200 Long-term Notes Payable $ 17,500 $ 17,000 Common shares $ 22,000 $...
Cash 5,712 Accounts Receivable 2,180 658 Prepaid Expenses Equipment 15,080 Accumulated Depreciation 2,866 Accounts Payable 1,433...
Cash 5,712 Accounts Receivable 2,180 658 Prepaid Expenses Equipment 15,080 Accumulated Depreciation 2,866 Accounts Payable 1,433 5,340 Notes Payable Common Stock 1,000 Retained Earnings 11,364 Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense ON HO IN LON - Totals 28,342 INT 28,342 Determine the net income Class) for the period nh 12:40 AM
Accounts payable $41,000, Accounts receivable $46,500, Capital stock $100,000, Cash $41,000, Dividends $10,000, Goodwill $47,000, Interest...
Accounts payable $41,000, Accounts receivable $46,500, Capital stock $100,000, Cash $41,000, Dividends $10,000, Goodwill $47,000, Interest expense $4,000, Interest payable $4,100, Inventory $32,000, Note payable $18,000, Prepaid expenses $5,200, Property, plant & equipment $123,000, Retained earnings $46,000, Rent expense $18,000, Revenues $101,000, and Salary expense $60,000. The note payable balance is due in nine months. How much is Charlie's current ratio? (Round your answer to two decimal places.)
Use the following data to create a balance sheet: Accounts Receivable Building Cash Salary Expense Accounts Payable Equipment Retained Earnings Prepaid Expenses Sales Accumulated Deprec- 22,000 142,000 38,000 22,000 37,000 86,000 ?? 2,000 123,000 32,000 Goodwill Accrued Expenses Short-term Notes Payable Cost of Goods Sold Long-term Investments Common Stock Interest Income Inventory Dividends paid Rent Income 16,000 4.000 25,000 52,000 35,000 1,000 2,000 62,000 25,000 1,200 10). Use the following data to create a P&L: $12000 $12,000 $64,000 $53,000 $22,000...
Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock 1,000 Retained Earnings Interest Income 2,000 Prepaid Expenses 12,000 Inventory 82,000 Sales 123,000 Dividends paid 25,000 Salary Expense 22,000 Cost of Goods Sold 62,000 Prepare a balance sheet. Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock...
The following items were taken from the accounting records of a company. Accounts Payable 57,000 Long-term investments 35,000 Accounts Receivable 32,000 Trademarks 6,000 Building 255,000 Accrued Expenses 9,000 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Common Stock 1,000 Retained Earnings Interest Income 2,000 Prepaid Expenses 12,000 Inventory 82,000 Sales 123,000 Dividends paid 25,000 Salary Expense 22,000 Cost of Goods Sold 62,000 Prepare a balance sheet. The following items were taken from the accounting records of a company. Accounts Payable...
Use the following data $ 57,000 $ 32,000 $255,000 $ 15,000 $ 76,000 Accounts Payable Accounts Receivable Building Cash Equipment Retained Earnings Prepaid Expenses Sales ?? $ 12,000 $123,000 $ 22,000 $ 35,000 $ 6,000 $ 9,000 $ 35,000 $ 1,000 $ 2,000 $ 82,000 $ 25,000 $ 62,000 $ 8,000 $ 9,000 Salary Expense Long-term Investments Trademarks Accrued Expenses Short-term Notes Payable Common Stock Interest Income Inventory Dividends Paid Cost of Goods Sold Utilities expense Income tax expense Use...
Use the following data to create a balance sheet: Cash Accounts Payable Revenues Salaries Payable Investments Interest Earned Common Stock $12.000 $ 22,000 $123,000 $ 4,000 $ 10,000 $ 1,000 $ 5,000 Accounts Receivable Equipment Goodwill Inventory Notes Payable Cost of Goods Sold Supplies $ 33,500 $ 67,000 $ 88,000 $ 29,000 $ 20,000 $ (62,000) $ 1,500 Use the following data to prepare a Statement of Cash Flows: a. cash borrowed from the bank b. cash paid for equipment...
Refer to the following trial balance. Credit Debit $19,000 43,000 65,000 15,000 320,000 Cash Accounts Receivable Merchandise Inventory Supplies Land Accounts Payable Notes Payable Common Stock Retained Earnings Dividends Sales Revenue Cost of Goods Sold Salaries Expense Utilities Expense Rent Expense Interest Expense Totals $3,000 25,000 293,000 22,000 6.00 465,000 200,000 15,000 68,000 53,000 __4.000 $808,000 $808,000 How much is the gross profit? O A. $129,000 B. $119,000 O C. $125,000 D. $265,000
Cash 5,161 Accounts Receivable 2,312 Prepaid Expenses 722 Equipment Accumulated Depreciation 13,561 8,903 Accounts Payable ! 1,678 Notes Payable 4,368 1,000 Common Stock Retained Earnings Dividends 1,505 1,000 Fees Earned 7,824 Wages Expense 2,019 Rent Expense 700 Utilities Expense 488 Depreciation Expense 257 Miscellaneous Expense Totals 26,278 26,278 Determine the total liabilities for the period. 11
Cash 5,712 Accounts Receivable 2,180 658 Prepaid Expenses Equipment 15,080 Accumulated Depreciation 2,866 Accounts Payable 1,433 5,340 Notes Payable Common Stock 1,000 Retained Earnings 11,364 Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense ON HO IN LON - Totals 28,342 INT 28,342 Determine the net income Class) for the period nh 12:40 AM
Most questions answered within 3 hours.
-
Cranium, Inc., purchases term papers from an overseas supplier
under a continuous review system. The average...
asked 2 hours ago -
1- What is the freezing point of pure water (in degrees
Celsius)?
2-
he molar mass...
asked 3 hours ago -
Determine the direction of the force that will act on the charge
in each of the...
asked 3 hours ago -
You purchase your daily coffee at the Chemist’s Coffeehouse and
have a choice of two cups:...
asked 6 hours ago -
Which of the following pairs of chemicals could be used to make
a buffer solution?
A.)...
asked 5 hours ago -
Problem 16-51 Sales
Activity Variance (LO 16-3)Odessa, Inc., reports the following
information concerning operations for the...
asked 6 hours ago -
Pictured on the right are thee point charges Q1 = 18.4 μC, Q2 =
-30.6 μC,...
asked 6 hours ago -
A graduate student is conducting research in psychology and
needs to obtain the IQ scores of...
asked 7 hours ago -
R2.84: There are 2 defective products in a production lot of 10.
An inspector randomly selected...
asked 8 hours ago -
Consider the following equilibrium system: COCl2(g) CO(g) +
Cl2(g) A 10.00 L evacuated flask is filled...
asked 8 hours ago -
1) What are the two distinct steps that one needs to perform
when developing a data...
asked 8 hours ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 10 hours ago